With the settlement, LG is offering owners of the above phones two options – a $425 cash payment or a $700 rebate that can be used towards the purchase of a future LG phone. I don't image too many of the people affected by this suit are going to dance with the devil for a second time, but $700 off the V30 or the upcoming G7 is a darn good offer.

Members of the lawsuit are being contacted now, and if you haven't received an update yet, you should within the coming days. All claims need to be filed prior to Monday, February 12, and if you aren't already part of the lawsuit, it sounds like it's too late to join.

The whole bootloop incident isn't a good one for LG and shouldn't have ever happened in the first place, but at least in my opinion, the settlement terms are more than reasonable.

If you were a member of this suit, will you be doing business with LG in the future?